USD/BRL may fall to 5.1003 - 5.2298

Our pivot point stands at 5.6737.

Our preference

Under pressure below 5.6737.

Alternative scenario

The upside breakout of 5.6737, would call for 5.8917 and 6.0216.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 5.6094 and 5.5094).

Supports and resistances

6.0216 **

5.8917 *

5.6737 **

5.5880

5.4893 last

5.2298

5.1003 **

4.9708 *

4.8413 **

Number of asterisks represents the strength of support and resistance levels.